Category Archives: Uncategorized

Check for Theft

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Identity Theft

As your post-holiday credit card statements arrive in the mail, you´ll probably think about what you spent. But have you thought about how much of your personal and financial information was exposed? Sounds like the perfect time to check your Credit Report!

In the past you had to be careful of the carbons when they “swiped” your credit card. Today credit thieves have a whole new high tech and low tech bag of tricks. The only way to make sure you’re safe is to take precautions and regularly check your credit report for inaccuracies, you know, the key changes on your report that could either indicate identity theft or a reporting error.

New payment plan for business credit program.

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Everyone that follows me knows this blog is not about selling you anything.  However I do promote what I think is the best and most reliable business credit building program in the country.  Excellent BBB rating and a 100% money back guarantee. Anyway, for many the $2000+ up front has always been a push for a lot of people.  The company now only requires $995 down and 6 payments of $200.  If you are interested in this program, now is the time to enroll.  You can contact me at:  303.513.8664

Best, Darrell

New Orleans style strawberry cake

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After taking so much time off I’m brain freezing when it comes to penning my usual biz and credit stuff.  So lets get the ball rolling again talking about food.  Since we last talked I was re-introduced to something I had totally forgotten about…..strawberry cake.  Served everywhere in Louisiana, rarely heard of around the rest of the country.  Now this is no big secret recipe.  Quite frankly, I was at a cajun restaurant here in Denver (yeah we have one good one) and it was on the menu.  I begged the proprietor to give me the recipe.  Nothing doing so I started an internet search.  I tried 3 or 4 and here’s the easiest, cheapest, quickest and tastiest of what I found.

New Orleans style strawberry cake

  • 1 box white cake mix
  • 2 lbs strawberries
  • 1/2 cup butter
  • 2 lbs confectioners sugar
  • 1 small package strawberry jello

Alternative Lending Sources

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What is the proper measure for creditworthiness in this day and age?

Apparently, it is no longer simply the credit report or the verdict of one’s local banking institution. There are so many individuals who fall short of traditional standards of creditworthiness that the marketplace has naturally made room for non-traditional lenders. Besides the controversial subprime mortgage lending industry that most people are by now familiar with, there is a increasung trend in person-to-person lending organizations. Websites like Prosper.com facilitate lending transactions between individuals and other single or small group benefactors. Using such a service empowers people who may not otherwise receive loan funding to finance their dreams and goals.

Free Link!

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Today I’m simply going to give you something for free that should have an immediate impact on your business well being.  Go to:   http://thesmallbizcollege.com/freeaccess.php.  This is a website I created to assist small biz owners in their endeavors.  I have over 600 people that have paid membership dues for access so “consider yourself lucky”.

You are welcome to give access to this site to any and all of your friends and business associates.  This free link will only work until August 10, 2009.

Standing on shoulders — how great is your business?

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Learning experiences

My best business lessons come from my clients. Central among these lessons is that good businesses make money, but great businesses build communities that make good business possible. “Great businesses” doesn’t mean only big public corporations. Private businesses are not only the foundation of our economy – they are essential to civic infrastructure. No other group of community leaders brings to bear the skills and entrepreneurial drive of the man or woman who owns a business.

A company that invests in its community not just money, but the talent and passion of its people, especially its owners, positions itself to move from being a success to being significant. “Being a good corporate citizen is good for business. Companies that give by donating money, products and services or volunteer time gain recognition by supporting their communities. Corporate giving can increase your company’s visibility, reputation for goodwill and employees’ sense of purpose.” — The Denver Office of Strategic Partnership’s Business Good Citizenship Kit.

Where’s credit due? Business owner credit reporting

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Credit reporting issues have caught my attention twice in the last few days. Just today an article in Business Week reports on a Capitol One practice of reporting all small business loans to consumer credit bureaus. Typically business loans would not impact the credit report of the business owner unless the business was delinquent on the loan. Now, for Capitol One borrowers at least, current and performing business loans will end up on the owner’s personal report as well.

 

How that might impact your personal credit score is beyond me, but it seems that you as a business owner ought to know this is happening and monitor it to understand its implications for you. Yes, I know we all are reminded to monitor our personal scores, but I suspect you, like me, do a spotty job of it (business owners tend to have a better pulse on their business credit).

 

SBA Financing Tips

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Small Business Administration

As the credit markets continue to tighten, an old reliable source of financing for small businesses, the U.S. Small Business Administration (SBA) and its loan programs, is once again being looked at as a critical component in providing liquidity in the market.  It is now imperative small business owners understand what is required of them to tap into this source of financing. The SBA lending market has changed dramatically over the past 120-180 days and the effect on lenders in this market has been dramatic as well.  Several top SBA lenders have completely left the market with most others pulling back significantly.  Losses and defaults are up and can no longer be offset with high interest rates (prime rate is at an historical low and capital costs are relatively high) or premiums earned on the secondary market, as there is no secondary market for SBA loans currently.  This means SBA lenders are now approaching loans in a much more conservative manner and assessing risk instead of simply booking sufficient volume to stay ahead of delinquencies and defaults.  This is being done on all loan applications, not just yours.   There is going to be much more due diligence on the part of the lender and more hurdles for the borrower to jump.  The days of 100% financing and fixed rate loans may be a thing of the past, but reasonable financing is still available to those borrowers willing to work a little harder and smarter.

Green up your lawn

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I am a credit and business finance adviser.  Many people consider me an expert.  Hell, I’ve secured over $250,000,000 in financing for small business owners in the last 3.5 years.  I must be doing something right.  This blog is all about credit and money.  Building and maintaining your credit–and how to leverage it for the purpose of growing a business.  Yet, sometimes I come across things that have nothing to do with credit or money.  Things that make a difference in my life and I think I owe it to you to pay it forward.  Here’s one I found a month ago and the results have been amazing.

I’ve got a beautiful back yard.  Go to my Facebook page and you’ll see pics everywhere.  It’s where I work (yup I write this stuff on my laptop on the patio).  It’s where I play.  It truly is my most prized possession.  Now having a nice yard doesn’t come cheap and quite frankly, that’s how this started.  I was spending in excess of $500 annually on fertilizers, plant food and the like.  So I started searching the internet on home remedies for fertilization.  I found many but this one was explained the best and made the most sense.